Home / Questions / The most recent financial statements for Fleury Inc., follow.Interest expense will remain

The most recent financial statements for Fleury Inc., follow.Interest expense will remain

The most recent financial statements for Fleury Inc., follow.Interest expense will remain constant; the tax rate and thedividend payout rate will also remain constant. Costs, otherexpenses, current assets, fixed assets and accounts payableincrease spontaneously with sales.

FLEURY, INC. 2011 Income Statement
Sales			$	743,000
Costs				578,000
Other expenses				15,200

Earnings before interest and taxes			$	149,800
Interest paid				11,200

Taxable income			$	138,600
Taxes (35%)				48,510

Netincome			$	90,090

Dividends	$	27,027
Addition to retained earnings		63,063

FLEURY, INC. Balance Sheet as of December 31, 2011
Assets			Liabilities and Owners’ Equity
Current assets			Current liabilities
Cash	$	20,240	Accounts payable	$	54,400
Accounts receivable		32,560	Notes payable		13,600

Inventory		69,520	Total	$	68,000

Total	$	122,320	Long-term debt	$	126,000
			Owners’ equity
Fixed assets			Common stock and paid-in surplus	$	112,000
Net plant and equipment	$	330,400	Retained earnings		146,720

			Total	$	258,720

Total assets	$	452,720	Total liabilities and owners’ equity	$	452,720

Complete the pro forma income statements below. (Inputall amounts as positive values.)

FLEURY INC. Pro Forma Income Statement
	15% Sales Growth	20% Sales Growth	25% Sales Growth
Sales	$	$	$
Costs
Other expenses

EBIT	$	$	$
Interest

Taxable income	$	$	$
Taxes (35%)

Netincome	$	$	$

Dividends	$	$	$
Add to RE

Calculate the EFN for 15, 20 and 25 percent growth rates.(Negative amounts should be indicated by a minus sign.)Show all work and formulas.

	15%	20%	25%
EFN	$	$

Dec 02 2019 Read more Less More

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The most recent financial statements for Fleury Inc., follow.Interest expense will remain

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